IEDC names Greater Phoenix Economic Council a top economic development organization in the U.S.
International Economic Development Council recognizes GPEC with third EDO of the Year award, cross-border collaboration efforts
PHOENIX (Sept. 20, 2023) – On Tuesday, the Greater Phoenix Economic Council (GPEC) was named a top economic development organization in the United States (population 500k+) by the International Economic Development Council (IEDC). It is the third time in four years that GPEC has received recognition as a top EDO from IEDC, earning the Gold Rank that distinguished GPEC as the Top EDO Globally in 2021 and the top EDO in the U.S. in 2020.
“We are honored to be recognized once again for our efforts in helping Greater Phoenix become an increasingly competitive and dynamic region. Our results can be attributed to our dedicated staff, 22 member communities, Maricopa County and more than 200 private investors,” said GPEC President & CEO Chris Camacho. “This acknowledgement from IEDC, representing a global benchmark among peers, underscores our commitment to continued innovation and growth that propels Greater Phoenix as an anti-fragile region driven by collaboration and resilience.”
GPEC was one of five economic development organizations (population 500k+) in the world to earn a Top EDO award this year. In addition, GPEC was awarded the Silver Rank in IEDC’s Regionalism & Cross-Border Collaboration category as a recognition of GPEC’s innovative approaches to the Taiwan Semiconductor Delegation held in June 2022.
IEDC’s Excellence in Economic Development Awards are judged by a diverse panel of economic and community developers from around the world. The Silver Rank for 2023 EDO of the Year is awarded to the leading economic development organization demonstrating successful efforts in creating positive change in the community.
In collaboration with local community partners, GPEC met each of its respective goals resulting in a record-breaking year for capital investment into the region. GPEC closed fiscal year 2023 with 37 companies selecting Greater Phoenix for expansion or relocation, the creation of 7,731 new jobs, 5,019 of those being high-wage jobs with an average salary of $76,553, and generating $29.65 billion in capital investment.
Among major locates was Taiwan Semiconductor Manufacturing Company (TSMC) announcing a second expansion in Phoenix for another advanced semiconductor fabrication plant that would create 2,250 high-tech jobs and $22 billion in capital expenditures, the largest capital investment in GPEC history. LG Energy Solution announced a $5.5 billion investment into Queen Creek that will create thousands of new jobs.
Other notable locates include Arrive Logistics, Chang Chun Chemical Corporation, Corning, JA Solar, Mediterranean Shipping Company, Rehrig Pacific Company, Tokyo Electron and Xnrgy.
Maricopa County was once again the fastest-growing county in the United States (U.S. Census Bureau) while Arizona led the nation in increase in median income (Census Bureau) and was ranked third for economic performance (Rich State Poor States).
“GPEC’s vocal leadership, working alongside public and private institutions in the area and advocating on behalf of Greater Phoenix to national leadership, has competitively positioned the region at a global scale,” said David Rousseau, President of Salt River Project (SRP) and Board of Directors Chair of GPEC. “This recognition is well-deserved as GPEC continues to directly impact the growth trajectory of the region.”
Other impactful projects and achievements include:
- GPEC coordinated three large-scale delegations of international businesspeople in 2022 and 2023, with included partnerships with the American Institute in Taiwan (AIT), Japan External Trade Organization (JETRO), SelectUSA with the U.S. Department of Commerce, and others. In total, GPEC hosted more than 150 international businesspeople.
- GPEC rebuilt web elements to provide better overviews of 11 industries leading the Greater Phoenix economy and launched the economic monitor, a publicly accessible tool measuring the status of the regional economy.
- Several community organizations, including GPEC, collaborated with The State of Black Arizona to publish the second annual State of Black Business Report, presenting key data points related to Black income, Black buying power, Black entrepreneurship, and Black businesses in a concise snapshot of Arizona’s African American population’s contributions to the local economy.
- GPEC advanced its owned media strategy, implementing a podcast, video features and additional long-form written content to better share the stories of the region. This included water education through The Drip social media campaign.
- Discussions with private companies and federal officials helped advance the CHIPS Act. GPEC hosted multiple webinars to provide companies with more information about best practices to apply for funding.
- GPEC continued its hybrid art exhibits, hosting three art shows in 2022 and 2023 with a fourth set to launch in early November. These three shows included 217 local artists and 351 pieces of art with 100% of sales going back to the artists.
- Advancement of data science in projects including venture capital tracking, industry intent and Project BRAIN helped GPEC evolve its lead generation efforts.
The Greater Phoenix Economic Council (GPEC), globally recognized as a top economic development organization (EDO), works to attract and grow quality businesses and advocate for the competitiveness of Greater Phoenix. A data-driven regional EDO, GPEC works with 22 member communities, Maricopa County and more than 200 private investors to accomplish its mission and serve as a strategic partner to companies across the world as they expand or relocate to Greater Phoenix. Over the past 34 years, GPEC has fueled the regional economy by helping over 980 companies, creating nearly 182,000 jobs and more than $65 billion in capital investment. Greater Phoenix is in a relentless pursuit of innovative and entrepreneurial-focused companies looking to thrive and scale in a vibrant, dynamic region. There is an undeniable spirit about Greater Phoenix; one rooted in strength, collaboration and resilience. Greater Phoenix is Greater Together. For more information about GPEC and how we can assist your businesses, visit www.gpec.org.
The International Economic Development Council (IEDC) is a non-profit, non-partisan membership organization serving economic developers. With more than 4,300 members, IEDC is the largest organization of its kind. Economic developers typically work for cities, counties, states, public-private partnerships, and chambers of commerce and promote economic well-being and quality of life for their communities, by creating, retaining, and expanding jobs that facilitate growth, enhance wealth, and provide a stable tax base. From public to private, rural to urban, and local to international, IEDC’s members are engaged in the full range of economic development experiences. Given the breadth of economic development work, our members are employed in a wide variety of settings including local, state, provincial, and federal governments, public-private partnerships, chambers of commerce, universities, and a variety of other institutions. IEDC’s members create high-quality jobs, develop vibrant communities, and improve the quality of life in their regions.